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Offshore Financial Centers in the Global Capital Network
Naitram, Simon - 2014
Offshore financial centers are inextricably linked with the global flow of capital. Offshore financial centers encourage short-term investment by reducing market frictions. Lowered tax rates diminish the required expected gains from trading. This study employs data from the IMF's Coordinated...
Persistent link: https://www.econbiz.de/10013053460
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Two-Way Capital Flows and Global Imbalances : A Neoclassical Approach
Wen, Yi - 2012
between emerging economies (such as China) and the developed world (such as the United States). We show how underdeveloped …) Global trade imbalances between emerging economies and the developed world are sustainable even in the steady state. (ii … "saving glut" of emerging economies is responsible for the low world interest rate …
Persistent link: https://www.econbiz.de/10013104777
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Theory-based measurement of the saving-investment correlation with an application to Norway
Jansen, Willem Jos; Schulze, Günther G. - 1993
We demonstrate that the correlation of saving and investment is measured best by an error correction model (ECM), because theory implies a cointegrating relation between these variables. The ECM comprises all previous specifications as special cases, which are shown to be potentially...
Persistent link: https://www.econbiz.de/10010220230
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Investment-Saving Comovement and Capital Mobility : Evidence from Century Long U.S. Time Series
Levy, Daniel - 2010
This paper makes three contributions. First, I construct annual time series of gross domestic investment and national saving in the United States for the 1897-1949 period using historical component series. I compare the qualitative and quantitative properties of the newly constructed series with...
Persistent link: https://www.econbiz.de/10014087784
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Global Imbalances : In Midstream?
Blanchard, Olivier J. - 2010
been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does … do so could result in the world economy being stuck in “midstream," threatening the sustainability of the recovery …
Persistent link: https://www.econbiz.de/10013149670
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Investment-Saving Comovement and Capital Mobility: Evidence from Century Long U.S. Time Series
Levy, Daniel - In: Review of Economic Dynamics 3 (2000) 1, pp. 100-136
This paper makes three contributions: First, I construct annual time series of gross domestic investment and national saving in the U.S. for the 1897–1949 period using historical component series. I compare the qualitative and quantitative properties of the newly constructed series with the...
Persistent link: https://www.econbiz.de/10012140554
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Investment-Saving Comovement and Capital Mobility: Evidence from Century Long U.S. Time Series
Levy, Daniel - EconWPA - 2005
This paper makes three contributions: First, I construct annual time series of gross domestic investment and national saving in the U.S. for the 1897–1949 period using historical component series. I compare the qualitative and quantitative properties of the newly constructed series with the...
Persistent link: https://www.econbiz.de/10005408170
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Growth expectations, capital flows and international risk sharing
Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003
Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...
Persistent link: https://www.econbiz.de/10009635970
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Trade, gravity and sudden stops : on how commercial trade can increase the stability of capital flows
Cavallo, Eduardo A. (contributor) - 2006
Financial stability is an important policy objective, since crises are associated with large economic, social and political costs. Promoting stability requires preventing "sudden stops" in capital flows, which are events in which foreign financing abruptly disappears. This paper contributes to...
Persistent link: https://www.econbiz.de/10003775779
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Current account adjustment and financial integration
Towbin, Pascal - 2008
The paper investigates whether higher financial integration leads in general to slower current account adjustments. The study estimates theoretically founded trade balance reaction functions for a panel of seventy countries from 1970-2004. The empirical analysis finds that adjustment in...
Persistent link: https://www.econbiz.de/10003891878